By Brian Parker | Business Development Director
As RED International’s business development director I was thrilled to be able to visit Pakistan in May to see how many families we have been able to help over the past 12 months through Unique Star’s microloan scheme. Here are some of their stories:
“My name is Amir*, I live in an area named Garhi Shahu. I have 6 kids (3 daughters and 3 sons) they are studying in universities and colleges. I used to drive a rented auto rickshaw, for which I daily paid 500/Rs. (5$). When I earned 900/Rs. (9 $) I had to pay 500 (5$) pay to the owner and other maintains of auto rickshaw. I had only 300 (3$) left with which it is quite difficult to manage my home and studies of my children. I applied for a loan of 100,000/Rs to Unique Star. I got this and purchased a 2nd hand auto rickshaw.
Now I have my own auto rickshaw after all my over I am saving 600Rs. (6$) per day and my monthly am saving (180$-200$). I am thankful to Unique Star and its team so I am able to earn for my family supporting my children in their studies and improving our lives.”
“My name is Jamshad*. I have been running my own business for five years. I am thankful to Unique Star that they have provided me loan with easy interest.
I have been running a pet bird business in pet birds market (Dharampura, Lahore) for five years. These are not very expensive. I buy imported pets in bulk from different markets and sellers. There is a demand for healthy, beautiful pet birds. The demand is increasing gradually, which is good for business, but due to shortage of investment it was difficult to fulfil the need. I acquired a loan from Unique Star so I could expand my business and add new things. Before the loan, my average sale a day was Rs. 10000-15000/- Rs. (96-144$) and I hardly managed to save anything after paying all business expenses. After paying all the debts and wages the saving was around Rs. 18000-20000/- (173-192$) per month.
But now I have the loan and invested more in the business. Gradually my sale is increasing and now the average sale per day is 15000-20000/- Rs (144-192$), which not only fulfills my family needs, but also leaves me with an average profit of Rs20000-25000/- (192-240$) per month, after paying all my expenses.
Thank you Unique Star. With your help I am able to develop my business.”
Having met these men and others like them. I was able to provide training for them to continue to develop their businesses even further. As those who have received loans are able to manage the repayments and still make a profit Unique Star is able to support new business ventures. The potential to see this project grow to help even more families is enormous. With your help we would like to help another 30 number of families and their business enterprises in 2017.
Microloans are such a simple yet powerful way to lift families out of poverty. Thank you so much for your partnership in making this happen. Please share these stories with your friends and family so together we can help make poverty history.
*names changed
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